In June you are going to see moderate and stable growth in small businesses, says Paychex CEO Gibson

Client Retention & Value Proposition - Client retention was up year-over-year, indicating a strong value proposition [1] - A spike in bankruptcies and financial distress was observed in the micro segment (small businesses) following "liberation day," which is not uncommon after external shocks [2] Small Business Growth & Economic Outlook - Moderate growth was seen in the index in May [3] - No signs of recession are apparent, with expectations of continued moderate and stable growth in small businesses in June [4] - Small businesses are optimistic but awaiting clarity on taxes and tariffs to propel growth [4][5] Wage Inflation - Wage inflation is decelerating, reaching a four-year low of 2.77% [4][5] Policy & Clarity - Uncertainty regarding the impact of tariffs is a challenge for the Federal Reserve [6] - Clarity is crucial for entrepreneurs to "take off" [7][8] - Policymakers are advised to bring more clarity to the situation [7][8]